Rise in Implementation of the Digital Oilfield Concept to Drive Demand for Oilfield Communications

Continuous digitization of operations in the O&G sector and growing need for robust, scalable, and collaborative environments for remote asset monitoring in the oil & gas industry are poised to drive the global market for Oilfield Communications to reach US$5.3 billion by 2024.

Oilfield communication includes all the communication technologies used in oilfields for providing support to oil & gas companies that need advanced monitoring, automation, and reporting technology. With the era of ‘easy oil’ almost drawing to a close, the digital oil field (DOF), which is a long-established concept, is gaining more traction within the oil & gas industry. Oil and gas industry is characterized by remote inaccessible locations and hostile environment amid disruptive weather conditions. The ongoing digitization of operations in the O&G sector, from onshore and offshore oil and gas platforms to remote exploration has resulted in growing demand for communication technologies that protect and maximize return on investment of oil and gas companies. Over the past decade, the industry has made commendable achievements towards development of technologies for real-time communications, thereby squeezing the distance between the oilfield and rig. Use of integrated operations enables operators to make efficient use of resources through improved collaboration and enhanced workflows for increased drilling and production efficiency. Heavy onshore, offshore, and deepwater drilling activity is likely to significantly spur demand for oilfield communication technologies in the long-term. Demand for satellite communications services continues to be strong in key markets for remote projects under development such as deep water locations in Brazil and nearshore operations in Southeast Asia.

As IT technologies continue to evolve, demand for wireless communications solutions is poised to further increase in the coming years. Wireless networks enable operators to monitor the oil and gas field assets including wells and storage units remotely which significantly reduces time and costs. With companies requiring the need to access real time data from remote locations, IoT solutions are emerging as an important technology to aid companies control their assets remotely. Over the near to mid-term more number of companies would continue to invest or increase investments in big data, mobility, automation technologies and Industrial Internet of Things (IIoT) and leverage more analytics capabilities to offer accurate predictive functionalities and sustain profitability in the long run. Companies operating in the oil & gas sector are focusing on deepening the integration between M2M and operational SCADA with the enterprise IT applications to collect reliable data and analytics that enable better process control and business insights. Growing emphasis of oil companies on remote asset monitoring is expected to benefit the High Throughput Satellites (HTS) in the oil & gas sector.

As stated by the new market research report on Oilfield Communications, the U.S. represents the largest and fastest growing market with a CAGR of 6.9% over the analysis period. The rise in exploration and production activity would continue to drive the need for greater bandwidth and managed services in the US. The near term outlook for Latin American oil and gas industry is forecast to be positive, especially in the upstream sector led by improved growth in exploration activity.

Key players in the market include ABB Ltd., Alcatel-Lucent S.A., Ceragon Networks Ltd. Halliburton, Huawei Technologies Co., Ltd., Hughes Network Systems LLC, Inmarsat plc, ITC Global, Oz Oil and Gas Inc., Redline Communications Group, RigNet, Inc., and Weatherford International, among others.

The research report titled “Oilfield Communications: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major market participants. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Europe (UK, Russia, Norway, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa (Iran, Saudi Arabia, and Rest of Middle East & Africa), and Latin America (Brazil, Mexico, and Rest of Latin America). Major types of Oilfield Communications analyzed in the report include Solutions and Services.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.

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